Generative AI enabling identity fraud at scale: Au10tix report
An eight month-long identity fraud campaign coordinated by organized crime groups has attempted 22,080 fraudulent user onboarding attempts by repeatedly…
financial crime
Biometric Update regularly publishes news regarding the term "financial crime." The following set of links is available to assist you with finding biometrics news regarding "financial crime" and other relevant terms. More topics may be perused by reviewing our comprehensive Biometrics Topics list.
FinCEN underlines financial sector collaboration to address digital identity threat
Following the release of its Identity Financial Trend Analysis, representatives from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN)…
Data breach, identity fraud trends reveal deepfake and generative AI threats
Identity trends in 2023 saw generative AI facilitate the creation of fake IDs. Notable breaches affected millions around the world,…
India’s Aadhaar payment system AePS sees rising financial fraud cases: report
Online fraud through the Aadhaar Enabled Payment System (AePS), a platform that allows merchants to accept payment from customers through…
Selfie biometrics adopted by fintechs amid 70% fraud rate spike at financial institutions
Overall fraud incidents are up 20 percent, according to findings from the Identity Fraud Report 2024 from ID verification platform…
AI speeds synthetic identity fraud, enabling human-like interactions
Fake identities are driving a boom in financial fraud. A new study has shown that fraud involving AI-generated identities has…
Implement behavioral biometrics to stop money mules, says UK’s financial regulator
The UK’s Financial Conduct Authority (FCA) has published key findings from a review of what role money mules play in…
How can financial institutions safeguard against deepfakes: The new frontier of online crime?
Biometric face verification has quickly become recognized as a secure and user-friendly method to verify identity at onboarding and re-authenticate…
BioCatch identifies difficulties adapting to emerging financial threats
New research from behavioral biometrics firm BioCatch has identified concerns from financial institutions about dealing with emerging financial threats, finding…
Synthetic identity fraud to hit $5B in two years. Credit agency practices enabling crime
Could U.S. synthetic fraud losses in 2024 equal the valuation of five unicorns? That is what one digital ID verifier…
Biometric Market Analysis and Buyer's Guides
- Understanding MOSIP
- Biometric Physical Access Control
- Digital Identity Verification
- Deepfake Detection
- Online Age Assurance
- Facial Liveness Detection